ALBANY, New York, January 25, 2018 /PRNewswire/ --
As per the new market report published by Transparency Market Research titled "Telecommunication Services Market [By Package Type (Double Play, Triple Play and Quad Play), By End-use Vertical (Residential and Commercial)] - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017 - 2025,"a revenue generation of US$1.4 bn could be promised to be achieved by the global telecommunication services market in 2025. The market has been envisaged to expand at a 6.6% CAGR during the forecast tenure 2017-2025. In 2016, it had generated a revenue of US$0.8 bn. By type of package, the market could be commanded by triple play which accounted for a 38.4% share in 2016. By region, Asia Pacific has been foretold to be in the driver's seat until the concluding forecast year while rising at a 6.9% CAGR.
The telecommunication industry is one of the fastest growing industries in the business world. Telecommunication service providers offer telecommunication services for receiving and sending data through electronic devices. Telecommunication services include email, text, television, fax, radio and Internet access. Telecommunication services are beneficial for businesses as they enable effective communication with customers and help in establishing a healthy relationship with them. These services are also beneficial for employees of enterprises as these services provide flexibility & efficiency and enable easy transmission of data. A smartphone is one of the key application of mobile telecommunication service which includes extensive range of functions and applications. Different types of mobile services are networking for home, Internet, networking for business, television, phone etc.
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Internet and phone are one of the fastest growing mobile telecommunication services. Some of the disadvantages allied to telecommunication services market are equipment expenses and security issues among others. Factors enhancing growth of telecommunication services are advancement in technology, investment in new telecommunication technologies like satellite and wireless communication, innovative services like e-agriculture and e-education and growing demand for high speed data processing and high speed Internet. However, factors restraining the growth of telecommunication services are non-awareness among consumers and high cost of value added services. On the other hand, penetration of Internet of Things (IoT) technology is creating growth opportunities for telecommunication services market. IoT technology enables telecom operators to monitor and plan maintenance more efficiently, enhance bandwidth and coverage to improve download times, and enhance customer service by reducing dropped calls and service delay times.
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The global telecommunication services market by package type was dominated by the triple play with a market share of 38.4% in 2016 while quad play is expected to grow with highest CAGR during the forecast period from 2017 to 2025 owing large scale adoption of quad play services by micro, small and medium enterprises (SMEs). In terms of end use vertical, residential held maximum share in 2016 while commercial segment is anticipated to grow with highest CAGR during the forecast period from 2017 to 2025 owing to increase in demand for bundled services due to its high quality of service.
Asia-Pacific is expected to grow at a significant rate in global telecommunication services market in 2016 with a share of about 31.5% in 2016 of overall global telecommunication services market. The high growth in the region is owing to high mobile penetration rate and growing population in the region.
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The telecommunication services market is highly fragmented with number of companies operating in the segment. Companies including Bharti Airtel, Vodafone Group PLC etc. have been able to establish themselves as leaders. Leading players are currently focusing on providing services with new and innovative technologies. Moreover, as part of this strategy, the companies are engaging in various strategic partnerships, acquisitions, focusing on expanding their business through new service additions and geographical presence.
Some of the major players in the global telecommunication services market with the significant developments are AT&T Intellectual Property, Vodafone Group PLC, Telus, TalkTalk, Rogers Communications, Inc., Telenet Belgium, BCE Inc., Telefonica SA, Bharti Airtel and T-Mobile among others.
The global telecommunication services market has been segmented as presented below:
Global Telecommunication Services Market by Package
- Double Play
- Triple Play
- Quad Play
Global Telecommunication Services Market by End-use Vertical
Global Telecommunication Services Market by Geography
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific (APAC)
- Rest of APAC
- Middle East and Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA
- South America
- Rest of South America
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